THQ Announces Publishing Agreement With People Can Fly
Creators of Painkiller Working on New Original Property for Next Gen Systems
Feb 13, 2006: THQ Inc. (Nasdaq: THQI) today announced that a deal has been signed with critically-acclaimed Polish developer People Can Fly to bring their forthcoming title to consumers worldwide. Through this strategic relationship, People Can Fly joins THQ's studio system, which includes 12 internal studios and more than 25 independent development teams. Under the terms of the agreement, the as-yet untitled game is expected to be developed for a global release across next-gen platforms in fall 2007.
"THQ's strategy is to work with world-class developers to bring highly innovative, original IP to market," said Dan Kelly, Senior Vice President, Business Development. "It was immediately obvious to us that the team at People Can Fly has great talent and an exciting, innovative idea that supports this strategy."
"THQ has always been our publisher of choice and we are delighted to be working with them. They have consistently proven to us that they are able to provide the right environment for a great business partnership," commented Adrian Chmielarz, President, People Can Fly. "Their open, communicative approach to the evaluation, analysis and ultimate signing of this deal has allowed us a great amount of creative flexibility and support for our development process. We look forward to working with them to bring an innovative, genre-defining product to gamers."
About People Can Fly
People Can Fly is a 50-person game development studio founded in February 2002 and located in Warsaw, Poland. The PCF team is composed of industry veterans, some with experience dating back to 1993. Previous projects include Odium (aka Gorky 17 in Europe), Project Earth (aka Starmageddon in Europe), Archangel, Katharsis, RoboRumble and Grom). The main idea behind funding and establishing People Can Fly was to create a world-class game development studio, and that's how the company and its first project -- Painkiller -- were born.
About THQ
THQ Inc. (Nasdaq: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Headquartered in Los Angeles County, California, THQ is a top producer of original intellectual properties including titles such as Destroy All Humans!TM, JuicedTM and Full Spectrum WarriorTM as well as the upcoming Saints RowTM, Titan QuestTM and Company of HeroesTM. More information about THQ and its products may be found at www.thq.com and www.thqwireless.com. THQ, THQ Wireless, Destroy All Humans!, Juiced, Saint's Row, Titan Quest, Company of Heroes, and their respective logos are trademarks and/or registered trademarks of THQ Inc.
The statements contained in this press release that are not historical facts may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as "THQ"), including but not limited to expectations and projections related to the publishing agreement between THQ and People Can Fly, and are based upon management's beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward looking statements, including, but not limited to economic, competitive and technological factors affecting the operations, markets, products, and pricing of THQ. Readers should carefully review the risk factors and the information that could materially affect THQ's financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal period ended March 31, 2005, and particularly the discussion of risk factors that may affect results of operations set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.